Following the U.S. airstrikes against ISIS targets in Sokoto on December 25, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has moved to calm international and domestic markets. In a statement released on Sunday, December 28, 2025, the Minister emphasized that Nigeria’s financial infrastructure remains resilient and that the military action should be viewed as a localized security operation rather than a broader conflict.
The Minister’s briefing was designed to clarify the nature of the “joint security operation” and prevent speculative volatility in the country’s debt and equity markets.
Resilience Amidst Security Operations
Despite the high-profile nature of the Christmas Day strikes, Edun reported that market indicators have remained within stable ranges. He attributed this to:
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Prudent Fiscal Management: Asserting that the government’s underlying economic policies are strong enough to absorb regional security shocks.
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Functional Debt Markets: Confirming that both domestic and international debt instruments continue to trade efficiently without signs of panic selling.
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Investor Confidence: Maintaining open communication with analysts and multilateral partners (such as the IMF and World Bank) to provide accurate context.
“Terrorism, Not War”: A Critical Distinction
A key takeaway from the Minister’s statement was the effort to define the current situation for the global community. He sought to separate the military activity from the concept of national instability.
“Nigeria is not at war with itself, nor with any nation. What Nigeria is decisively confronting—alongside trusted international partners—is terrorism.” — Wale Edun, Minister of Finance
Why this distinction matters for the economy:
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Risk Assessment: By defining the strikes as targeted counter-terrorism, the government aims to prevent credit rating agencies from downgrading Nigeria’s risk profile.
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Economic Implications: Edun argued that eliminating terrorist threats actually creates a “positive economic implication” by securing trade routes and farming communities in the long term.
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Sovereignty & Partnership: He reinforced that the operation was a “joint” effort, framing the U.S. involvement as a collaborative partnership rather than an intrusion.
Strategic Reassurance
The Minister’s intervention comes at a sensitive time as Nigeria prepares its 2026 Economic Outlook. By proactively addressing the Sokoto strikes, the Ministry of Finance is signaling to the global market that the Nigerian state maintains full control over its territory and its fiscal trajectory.
